Shepherds Bush Businesses Rates Up By Nearly a Quarter

Dorsett Hotel - flagship business in Shepherd's Bush

Businesses in Hammersmith and Fulham are likely be faced with a massive increase in the local Business Rate.

A leaked breakdown of changes in business rates show Shepherds Bush businesses are in line for a whopping 22.8% increase – a huge extra burden to carry.

The changes in Business Rates are designed to reflect rising rental property prices - and our borough is one of the worst affected. 

This big increase comes at a time when businesses are already facing rising costs with the introduction of the National Living Wage, the Apprenticeship Levy, as well as the impact of the depreciation of the Pound Sterling following Brexit.  Businesses face increasing uncertainty as the Government invokes Article 50 and has yet to confirm the rights of EU Citizens living in the UK, who play a vital role in our local economy.

The delayed revaluation of Business Rates, which will be implemented in April 2017, threatens the soul of our high streets, and could severely damage many local companies, particularly small businesses. For those in hospitality and retail, this tax is by far the largest they have to pay and will force many to close their doors.

The attractiveness of Hammersmith and Fulham for those seeking to live, work and visit the borough is dependent on its great shops, restaurants, bars and theatres. This punitive measure will damage the soul of our local area - leading to many local job losses and increase the long-term loss of commercial space, which is increasingly being converted to housing.

Hammersmith and Fulham council has signed a letter, alongside a number of London business groups and local councils, in protest against the planned increases - but the decision isn’t in their hands.

Although Ministers are expected to introduce transitional measures to help those businesses worst off, this will still have a devastating impact. I believe there should be a wholesale review of a system which levies a tax based on the size of property rather than a company’s profits.

----by Archie Campbell

The Shepherd's Bush Blog offers a personal view on life in Shepherd's Bush.  If you would like to contribute a story about our neighbourhood, email us at shepherdsbushblo(at)gmail.com.